Bi

zoe2008

Hi all
Just a quick question
As we are half way through the BR forms, what happens if you have noone to buy the BI?
We are on our own in this and although we are both finding it really stressfull we want to be totally clued up before we take the plunge.
Hopefully we can keep our house ( see other threads ).
Thanks all

Richard_S

zoe2008 wrote: »

Hi all
Just a quick question
As we are half way through the BR forms, what happens if you have noone to buy the BI?
We are on our own in this and although we are both finding it really stressfull we want to be totally clued up before we take the plunge.
Hopefully we can keep our house ( see other threads ).
Thanks all

Hi Zoe,

If the B.I is negligible or negative then you buy the B.I yourselves for a nominal £1 plus O.R's legal fees of £211; that's what we did. Obviously if the B.I was a bigger figure then the O.R would want to know how you raised the cash. Again, not a problem if a friend or relative lent you the money.

Richard

zoe2008

Thanks Richard
We werent sure if we could buy it back ourselves as we are going BR.
Thanks again for all your advice.
I have been reasured that we would not lose the house by all the other guys and girls out there so we are going for it!!!!:o